My cash buyer flaked right before closing yesterday

Had a deal lined up for a flipped house in Springfield, the guy ghosted after the inspection. I'm out the $500 earnest money I fronted. What's the fastest way to pivot and find a new buyer when this happens?

3 comments

3 Comments

dylan_bell1mo ago

Only $500 earnest money on a Springfield flip sounds pretty lucky.

richard_dixon1mo ago

Read an article about low earnest money being a red flag for sellers.

matthewkim1mo ago

I read that low earnest money deals fall apart more often. The buyer has less skin in the game, so walking away is easier. You might want to ask for a bigger deposit next time.